§ 12803. Rental rehabilitation

(a) In general

The Secretary shall make available a model program to support the rehabilitation of privately owned rental housing located in neighborhoods where the median income does not exceed 80 percent of the area median as determined by the Secretary and where rents can reasonably be expected not to change materially over an extended period of time.

(b) Amount of subsidy

The amount of the rehabilitation subsidy shall be moderate and shall generally not exceed 50 percent of the total costs associated with the rehabilitation of the housing.

The guidelines of the model program shall generally comport with the additional protections and restrictions specified under section 1437o (c) ^[1] of this title.

[1] See References in Text note below.

U.S. Code

§ 12803. Rental rehabilitation